What is a Claim? Claim[kleym]noun1.An insurance Claim is a policyholder’s request to an insurance company for restitution based on the terms of the insurance Policy. The insurance company, through an Adjuster, investigates the validity of the Claim and pays the policyholder. Share | Related Content Coaches Coaches have helped you your whole life, in ways big and small. We’d like to be one of them. What is a Loss? Do you know what a Loss is? Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.